{"id":418213,"date":"2021-06-02T10:32:40","date_gmt":"2021-06-02T05:02:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=418213"},"modified":"2021-06-02T11:18:20","modified_gmt":"2021-06-02T05:48:20","slug":"oil-price-hits-two-year-high-as-opec-sees-more-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-price-hits-two-year-high-as-opec-sees-more-demand\/","title":{"rendered":"Oil price hits two-year high as OPEC sees more demand"},"content":{"rendered":"<p>The price of oil was on course Tuesday to close above $70 a barrel for the first time in two years on investors\u2019 optimism that improving oil demand and a dwindling supply glut may mean the market can absorb any additional supply from OPEC and its allies.<\/p>\n<p>Brent crude, the international energy benchmark, rose 2.6% to $71.09 a barrel. It is on track for its highest close since May 2019. West Texas Intermediate futures gained 3.5% at $68.61 a barrel. The U.S. gauge on Tuesday crossed its highest level since October 2018. <\/p>\n<p>Members of the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, on Tuesday agreed to continue relaxing curbs on oil production, signaling their confidence in improving oil demand and a drop in the global supply glut.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of oil was on course Tuesday to close above $70 a barrel for the first time in two years on investors\u2019 optimism that improving oil demand and a dwindling supply glut may mean the market can absorb any additional supply from OPEC and its allies. Brent crude, the international energy benchmark, rose 2.6% to $71.09 a barrel. It is on track for its highest close since May 2019. West Texas Intermediate futures gained 3.5% at $68.61 a barrel. The U.S. gauge on Tuesday crossed its highest level since October 2018. Members of the Organization of the Petroleum Exporting [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-418213","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/418213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=418213"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/418213\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=418213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=418213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=418213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}